REDONDO BEACH, CA (May 16, 2013) We are celebrating 60 Years of Loving our members! We were founded in 1953 as Centinela-South Bay Credit Union with a tiny office off Pacific Coast Highway in Redondo Beach and have been proudly serving the South Bay community ever since.
“We are a cooperative. We are the credit union for the South Bay. We know our members love us for our banking products, low fees or great service but the thing that makes us truly special is our design. We are a financial cooperative and those who use our services are more than just ‘customers’ with us, they are member-owners. Our Board of Directors is made up of volunteers elected by our members to represent our members in making decisions about how the credit union operates and how capital is utilized,” said Jennifer Oliver, President and CEO of South Bay Credit Union.
Oliver adds that credit unions, including those tied to certain employers or communities, were established because many people were unable to access credit from traditional financial institutions when they needed them. Credit unions have always had a strong connection to their member needs since founded on the principles of “People Helping People.”
“We haven’t strayed very far from those initial beliefs,” said Oliver. “We believe we’re big enough to serve you but small enough to know you.” Oliver adds, “We encourage our members to participate! And since our cooperative structure isn’t motivated to increase the wealth of Wall Street stockholders, we are able to provide more value to our member-owners.”
With branches in Redondo Beach and Torrance, South Bay Credit Union can serve all those that work, live or worship in the area known as the South Bay. In addition, South Bay Credit Union is a member of the CO-OP Network providing access to 30,000 free ATM’s and CU Service Centers providing a network of 6,800 shared branches for typical banking transactions across the nation.
South Bay Credit Union participates in local community events, fund raising for Children’s Miracle Network, local food banks, Cheer for Children, local kids’ sports and we use local vendors whenever possible.
“We believe in helping build healthy communities because they help provide our members with a stable, financial future which, in turn, helps us to continue to build our credit union,” said Oliver.
South Bay Credit Union hosted a ribbon cutting with the Redondo Beach Chamber of Commerce and representatives from Senator Ted Lieu’s office in celebration of 60 years serving the community.
Established in 1953, South Bay Credit Union is a member-owned not-for-profit financial cooperative proudly serving anyone who lives, regularly works, attends school or worships in the area known as South Bay in Los Angeles County, California with 6,000 members, more than $80 million in assets supported by a team of 15. As a financial cooperative, South Bay Credit Union brings members together, pooling their financial resources to meet the individual needs of the membership, while providing enough capital to run a strong and efficient operation. South Bay Credit Union is headquartered in Redondo Beach, California and has a branch service center in Torrance. South Bay Credit Union’s mission is dedicated to providing progressive, diverse, cost effective financial services to our member-owners in a friendly and professional manner. Visit South Bay Credit Union’s website at www.sbcu.org for more information.